1832 Asset Management L.P. Purchases 266,500 Shares of Affirm Holdings, Inc. $AFRM

1832 Asset Management L.P. boosted its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 23.0% in the second quarter, HoldingsChannel reports. The fund owned 1,423,400 shares of the company’s stock after purchasing an additional 266,500 shares during the quarter. 1832 Asset Management L.P.’s holdings in Affirm were worth $98,414,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aspire Capital Advisors LLC acquired a new position in shares of Affirm during the second quarter worth $310,000. Truist Financial Corp grew its stake in Affirm by 236.6% during the 2nd quarter. Truist Financial Corp now owns 60,725 shares of the company’s stock worth $4,199,000 after buying an additional 42,686 shares during the last quarter. GraniteShares Advisors LLC acquired a new position in Affirm during the 2nd quarter valued at about $554,000. Nordea Investment Management AB increased its position in Affirm by 121.7% during the 2nd quarter. Nordea Investment Management AB now owns 229,837 shares of the company’s stock valued at $15,882,000 after buying an additional 126,186 shares in the last quarter. Finally, Toth Financial Advisory Corp purchased a new stake in Affirm in the second quarter valued at about $705,000. 69.29% of the stock is owned by hedge funds and other institutional investors.

Affirm Price Performance

Shares of NASDAQ:AFRM opened at $69.64 on Thursday. Affirm Holdings, Inc. has a twelve month low of $30.90 and a twelve month high of $100.00. The company has a current ratio of 12.80, a quick ratio of 12.80 and a debt-to-equity ratio of 2.40. The company has a market cap of $22.99 billion, a PE ratio of 103.94, a price-to-earnings-growth ratio of 3.02 and a beta of 3.57. The company’s 50 day moving average is $72.05 and its 200 day moving average is $70.74.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.11 by $0.12. The business had revenue of $933.34 million for the quarter, compared to the consensus estimate of $881.83 million. Affirm had a net margin of 6.74% and a return on equity of 7.75%. The business’s revenue for the quarter was up 33.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.31) EPS. On average, sell-side analysts forecast that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AFRM. JMP Securities boosted their price target on Affirm from $75.00 to $105.00 and gave the stock a “market outperform” rating in a research note on Friday, August 29th. Rothschild Redb upgraded shares of Affirm from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Zacks Research downgraded shares of Affirm from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Morgan Stanley decreased their price target on shares of Affirm from $90.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Affirm from $91.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, August 29th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.57.

Insider Buying and Selling at Affirm

In other news, CAO Siphelele Jiyane sold 12,500 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $85.42, for a total value of $1,067,750.00. Following the completion of the transaction, the chief accounting officer owned 213,967 shares of the company’s stock, valued at $18,277,061.14. The trade was a 5.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Max R. Levchin sold 651,713 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $89.27, for a total value of $58,178,419.51. The disclosure for this sale is available in the SEC filing. 11.01% of the stock is currently owned by corporate insiders.

Affirm Company Profile

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.